Caterpillar confident over positive tax ruling outcome

|About: Caterpillar Inc. (CAT)|By:, SA News Editor

Caterpillar (CAT +0.1%) is expecting to convince U.S. tax authorities that its Swiss subsidiary which records most of overseas sales profit complies with American tax rules.

The subcommittee reviewing the case estimated that Caterpillar avoided or delayed payments on more than $2.4B since 1999, and has saved $300M annually in the last few years.

The main questions brought into focus are Caterpillar's tax records from 2007-2009, and foreign tax credits that arose from certain company financing's.